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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and Krispy Kreme, Inc. (DNUT). Click either name above to swap in a different company.
Barnes & Noble Education, Inc. is the larger business by last-quarter revenue ($598.2M vs $392.4M, roughly 1.5× Krispy Kreme, Inc.). Barnes & Noble Education, Inc. runs the higher net margin — 4.2% vs -7.1%, a 11.3% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs -2.9%). Barnes & Noble Education, Inc. produced more free cash flow last quarter ($61.9M vs $27.9M). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs -5.9%).
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
Krispy Kreme, Inc. is an American multinational doughnut company and coffeehouse chain. Krispy Kreme was founded by Vernon Rudolph (1915–1973), who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores. Steady growth preceded an ambitious expansion as a public company in the period 2000 to 2016, which ultimately proved unprofitable. In 2016, the company retur...
BNED vs DNUT — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $392.4M |
| Net Profit | $25.0M | $-27.8M |
| Gross Margin | 21.7% | — |
| Operating Margin | 6.8% | -1.9% |
| Net Margin | 4.2% | -7.1% |
| Revenue YoY | 6.9% | -2.9% |
| Net Profit YoY | -49.7% | -23.8% |
| EPS (diluted) | $0.72 | $-0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $598.2M | $392.4M | ||
| Q3 25 | $274.2M | $375.3M | ||
| Q2 25 | $233.0M | $379.8M | ||
| Q1 25 | $419.7M | $375.2M | ||
| Q4 24 | $559.7M | $404.0M | ||
| Q3 24 | $250.9M | $379.9M | ||
| Q2 24 | $192.7M | $438.8M | ||
| Q1 24 | $415.4M | $442.7M |
| Q4 25 | $25.0M | $-27.8M | ||
| Q3 25 | $-18.3M | $-19.4M | ||
| Q2 25 | $-23.0M | $-435.3M | ||
| Q1 25 | $17.9M | $-33.3M | ||
| Q4 24 | $43.2M | $-22.4M | ||
| Q3 24 | $-103.9M | $39.6M | ||
| Q2 24 | $-41.9M | $-5.5M | ||
| Q1 24 | $-9.3M | $-8.5M |
| Q4 25 | 21.7% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 30.3% | — | ||
| Q1 25 | 22.3% | — | ||
| Q4 24 | 23.0% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 28.7% | — | ||
| Q1 24 | 24.2% | — |
| Q4 25 | 6.8% | -1.9% | ||
| Q3 25 | -8.4% | -1.9% | ||
| Q2 25 | -4.9% | -114.4% | ||
| Q1 25 | 4.5% | -5.4% | ||
| Q4 24 | 8.4% | -2.8% | ||
| Q3 24 | -15.4% | -4.2% | ||
| Q2 24 | -16.3% | 1.6% | ||
| Q1 24 | 0.4% | 2.7% |
| Q4 25 | 4.2% | -7.1% | ||
| Q3 25 | -6.7% | -5.2% | ||
| Q2 25 | -9.9% | -114.6% | ||
| Q1 25 | 4.3% | -8.9% | ||
| Q4 24 | 7.7% | -5.6% | ||
| Q3 24 | -41.4% | 10.4% | ||
| Q2 24 | -21.7% | -1.3% | ||
| Q1 24 | -2.2% | -1.9% |
| Q4 25 | $0.72 | $-0.18 | ||
| Q3 25 | $-0.54 | $-0.11 | ||
| Q2 25 | $2.97 | $-2.55 | ||
| Q1 25 | $0.59 | $-0.20 | ||
| Q4 24 | $1.63 | $-0.13 | ||
| Q3 24 | $-7.69 | $0.23 | ||
| Q2 24 | $-15.68 | $-0.03 | ||
| Q1 24 | $-3.49 | $-0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.7M | $42.4M |
| Total DebtLower is stronger | $122.5M | $911.9M |
| Stockholders' EquityBook value | $283.2M | $650.1M |
| Total Assets | $1.1B | $2.6B |
| Debt / EquityLower = less leverage | 0.43× | 1.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.7M | $42.4M | ||
| Q3 25 | $7.3M | $30.7M | ||
| Q2 25 | $9.1M | $21.3M | ||
| Q1 25 | $9.2M | $18.7M | ||
| Q4 24 | $11.6M | $29.0M | ||
| Q3 24 | $8.2M | $25.4M | ||
| Q2 24 | $10.5M | $28.6M | ||
| Q1 24 | $8.1M | $33.1M |
| Q4 25 | $122.5M | $911.9M | ||
| Q3 25 | $170.0M | $906.2M | ||
| Q2 25 | $103.1M | $889.4M | ||
| Q1 25 | $141.2M | $935.0M | ||
| Q4 24 | $177.6M | $844.5M | ||
| Q3 24 | $221.9M | $804.6M | ||
| Q2 24 | $196.3M | $895.0M | ||
| Q1 24 | $30.2M | $881.8M |
| Q4 25 | $283.2M | $650.1M | ||
| Q3 25 | $256.5M | $670.3M | ||
| Q2 25 | $272.2M | $693.6M | ||
| Q1 25 | $292.9M | $1.1B | ||
| Q4 24 | $211.4M | $1.1B | ||
| Q3 24 | $149.8M | $1.2B | ||
| Q2 24 | $80.4M | $1.1B | ||
| Q1 24 | $121.5M | $1.2B |
| Q4 25 | $1.1B | $2.6B | ||
| Q3 25 | $950.8M | $2.6B | ||
| Q2 25 | $790.3M | $2.6B | ||
| Q1 25 | $1.1B | $3.1B | ||
| Q4 24 | $1.0B | $3.1B | ||
| Q3 24 | $973.2M | $3.1B | ||
| Q2 24 | $909.9M | $3.2B | ||
| Q1 24 | $1.2B | $3.2B |
| Q4 25 | 0.43× | 1.40× | ||
| Q3 25 | 0.66× | 1.35× | ||
| Q2 25 | 0.38× | 1.28× | ||
| Q1 25 | 0.48× | 0.85× | ||
| Q4 24 | 0.84× | 0.74× | ||
| Q3 24 | 1.48× | 0.68× | ||
| Q2 24 | 2.44× | 0.79× | ||
| Q1 24 | 0.25× | 0.76× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $66.2M | $45.0M |
| Free Cash FlowOCF − Capex | $61.9M | $27.9M |
| FCF MarginFCF / Revenue | 10.4% | 7.1% |
| Capex IntensityCapex / Revenue | 0.7% | 4.4% |
| Cash ConversionOCF / Net Profit | 2.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | $-64.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.2M | $45.0M | ||
| Q3 25 | $-67.6M | $42.3M | ||
| Q2 25 | $52.6M | $-32.5M | ||
| Q1 25 | $-41.9M | $-20.8M | ||
| Q4 24 | $47.4M | $27.0M | ||
| Q3 24 | $-143.5M | $3.3M | ||
| Q2 24 | $81.7M | $33.2M | ||
| Q1 24 | $-35.8M | $-17.7M |
| Q4 25 | $61.9M | $27.9M | ||
| Q3 25 | $-71.3M | $15.5M | ||
| Q2 25 | $49.5M | $-60.8M | ||
| Q1 25 | $-44.7M | $-46.7M | ||
| Q4 24 | $44.4M | $-6.9M | ||
| Q3 24 | $-147.5M | $-22.9M | ||
| Q2 24 | $79.1M | $1.6M | ||
| Q1 24 | $-39.0M | $-46.8M |
| Q4 25 | 10.4% | 7.1% | ||
| Q3 25 | -26.0% | 4.1% | ||
| Q2 25 | 21.3% | -16.0% | ||
| Q1 25 | -10.7% | -12.5% | ||
| Q4 24 | 7.9% | -1.7% | ||
| Q3 24 | -58.8% | -6.0% | ||
| Q2 24 | 41.1% | 0.4% | ||
| Q1 24 | -9.4% | -10.6% |
| Q4 25 | 0.7% | 4.4% | ||
| Q3 25 | 1.4% | 7.1% | ||
| Q2 25 | 1.3% | 7.4% | ||
| Q1 25 | 0.7% | 6.9% | ||
| Q4 24 | 0.5% | 8.4% | ||
| Q3 24 | 1.6% | 6.9% | ||
| Q2 24 | 1.4% | 7.2% | ||
| Q1 24 | 0.8% | 6.6% |
| Q4 25 | 2.65× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -2.34× | — | ||
| Q4 24 | 1.10× | — | ||
| Q3 24 | — | 0.08× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
DNUT
Segment breakdown not available.
